Pearce & Associates
Online Only Auctions, Farm & Heavy Equipment, General & Estate, Other
Thursday, December 29th @ 12:00pm - Thursday, December 29th @ 12:00pm noon Central
84 Acres Coosa County, AL
Online Only Auction
84 ACRES - Rockford, Coosa County, AL.
Timber-Hunting Land-Mining Operation!
Pearce & Associates
P.O. Box 1864
Alabaster, AL 35007
Birmingham * Tuscaloosa * Huntsville * Anniston * Montgomery
Penscacola * Dothan * Gulf Shores/Orange Beach * Mobile * Biloxi
Online Bidding Only.
Bidding ends Thursday, December 29th @ 12:00noon (central time)
Selling land for the Wasser Estate.
84.73 Acres, more or less, located on Hwy 22, Rockford, Coosa County, Alabama, 35136. Selling all 84.73 acres as one tract, in it's entirety!
A VERY RARE AND UNUSUAL PROPERTY AND OPPORTUNITY FOR THE INVESTOR!
about this property: The sale of this land includes Mineral Rights! It was purchased by the deceased owner as an investment many years ago because it was found to have signifacant deposits of a mineral called "Tantalum". A deposit was found in the early 1980's in Coosa County on this property called "The Mcallister Deposit". It was found while looking for a tin deposit. O'Dell Mining Company was a coal mining companya and later a sand and gravel mining company who brieflly mined the property when the owner unexpectedly died. The mining company shut down. Mr Wasser purchased the property as an investment and it has not been mined since.
This property is believed to have timber growth in the 15 year age range. A timber cruise has not been done. As an investor, you could purchase the land for Hunting & Recreational Use, Home Development, Timber or as a potential mining operation.
The heirs of Wasser, LLC are non Alabama residents and ordered the land sold for estate settlement. For tax purposes, an Appraisal was conducted in August 2016 to value the property. Actual land was valued at $185,000. This appraisal did not consider any timber value or any mineral values.
The tantalum oxide product is estimated to be in the range of 35% to 55% in purity and well within the standards required for transportation and refinement in the market.
NOTE: All information was obtained from sources deemed reliable but is not guaranteed by the seller or the auctioneer. We are attaching a copy of a summary ORE Analysis Report, Regional Geology statement and current land appraisal report for your use. Property sells as is, to settle the estate.
15% buyers premium. Purchaser agrees to execute a non contingent sales contract and submit a down payment in the amount of 15% within 48 hours of the auctions ending and closing must take place within 30 days. Purchaser pays closing cost and title insurance.
The property has significant paved road frontage on Hwy 22 and an improved unnamed dirt road that travels through the middle of the land. The land is wooded with an estimated 15 year old pine growth and hardwoods.
Link to the Coosa County tax records